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boohoo group plc make offer to acquire British brands Karen Millen and Coast

boohoo group plc (LON: BOO), a leading online fashion group, notes recent media commentary about its interest in Karen Millen and Coast.

The Board confirms that it has made an offer to acquire the online business of renowned British brands Karen Millen and Coast, together with all associated intellectual property rights.

The Group believes that the online business of these brands would represent highly complementary additions to its scalable multi-brand platform and extend the Group’s offer as part of its vision to lead the fashion e-commerce market globally.

These discussions may or may not result in agreement of a transaction.

A further announcement will be made when appropriate.

“Leading the fashion eCommerce market”

Founded in Manchester in 2006 by Mahmud Kamani and Carol Kane, boohoo is an inclusive and innovative brand targeting young, value-orientated customers. For 13 years, boohoo has been pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7. boohoo has grown rapidly in the UK and internationally, expanding its offering with range extensions into menswear, through boohooMAN.

In early 2017 the group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing, and free-thinking brand Nasty Gal and in March 2019 acquired the Miss Pap brand. United by a shared customer value proposition, our brands design, source, market and sell great quality clothes, shoes and accessories at unbeatable prices. This investment proposition has helped us grow from a single brand, into a major multi-brand online retailer, leading the fashion eCommerce market for 16 to 30-year-olds around the world. As at 28th February 2019, the boohoo group had around 13 million active customer accounts across all its brands around the world.